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Thursday, January 28, 2010

Posted 1/28/2010 05:57:00 PM by Douglas

For credit line increase, press one
The U.S. Senate voted narrowly on Thursday to increase the government's borrowing authority to $14.3 trillion, which would allow the Treasury Department to continue servicing the country's spiraling national debt through most of 2010.
Wow, I can't even imagine $14.3 trillion. At some point, you get so far in debt, you'll never recover. But I don't think they're thinking about that.

Previous "debt ceiling adjustments" noted here in 2004, 2005, 2006, and 2007.

Why have a "ceiling" if they can raise it whenever the hell they feel like it?

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